Tata Steel Is Planning An Investment (13-Aug-2010)
Tata Steel is planning an investment worth Rs 4500 crore this fiscal for various projects, followed by Rs 7,000 crore in 2011-12. As the company is of the view that there is a tremendous opportunity in India with huge investments being planned in infrastructure, besides demand from the real estate, automobile and white goods segments.
This will be company’s first huge investment in the last 15-20 years. Further, the company is also looking at ways to deleverage the balance sheet for funding these projects. The company is also in the process of placing orders for the six-million tonne Orissa project and should start production in three to four years, although it has already been delayed by six to seven years.
The company had earlier made substantial investments in a large iron ore project in Canada and coal project in Mozambique which will facilitate the process.
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